Swiss regtech company Indigita SA has launched a new e-Learning course on operational risks for financial professionals. The training teaches participants how to identify and mitigate operational risks in financial services and addresses the requirements outlined in the recent FINMA Circular 2023/1 “Operational risks and resilience - banks”.
The online course provides participants with an overview of the operational risks occurring in financial services, discusses definitions and concepts, and explains general and specific measures of operational risk management. By completing the training, financial professionals gain an understanding of the operational risk exposure that they face when using internal systems, implementing processes and being subject to external occurrences. Participants also learn about the consequences these risks can have for financial institutions.
To help participants mitigate operational risks, the course highlights the importance of establishing clear roles and responsibilities on all levels of an organisation and explains why it’s crucial to implement an appropriate risk strategy to identify, assess, mitigate, and monitor risks. The training also discusses sources for potential operational risks, such as infrastructure, IT, business processes, staff or external events, and outlines common legal risks financial entities can face. The course then follows up with recommendations on how to minimise these risks.
In its final part, the training addresses current Swiss regulation on operational risks, including the general duties that financial institutions must fulfill. The course ends with a section dedicated to the recent FINMA Circular 2023/1 “Operational Risks and resilience – banks”, which will enter into force on 1 January 2024. The circular considers technological developments and clarifies FINMA’s supervisory practice regarding the management of operational risks, particularly in connection with information and communication technology, the handling of critical data, and cyber risks.
The online course combines theory with interactive elements and does not require prior knowledge of the topic. It lasts approximately 60 minutes and concludes with a final assessment to confirm participants’ learning progress. The course is available in English as of now as part of a corporate subscription or can be booked by individuals directly through the Indigita e-Shop.
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